IN THIS ISSUE:
Featured Articles, Amplify Opportunities, Upcoming Events, Kudos
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Dear
,
Welcome to another CICA Amplify Women
TM Newsletter!
On the brink of the annual
CICA conference and on the heels of World Captive Forum, I see the energy building for all the great Amplify Women initiatives in play. Those in attendance at World Captive Forum, had an informal meet and greet in support of Amplify Women. The network and support are growing. I’m excited to be involved and to see the impact of Amplify Women.
With tremendous support from the CICA Board and Dan Towle, the Amplify Women Task Force was developed last year with five founding members and now with 11 members. The goals of the task force were quickly established, and regular meetings held. Efforts are now underway to expand the mentoring of women in the captive insurance industry, increase the participation of women in speaking roles, and inspire women to contribute articles for industry publications. We are working on recognizing women who hold positions of influence, encouraging women to seek board positions, identifying women who are recipients of industry awards and supporting additional award nominations. Outreach is being developed to foster opportunities for women with educational initiatives and partnerships with higher education institutions.
We are pleased to announce that this year’s CICA conference on Tuesday March 10th, will host an Amplify Women Kick-Off breakfast, followed by a panel discussion: Amplify Women – Highlighting the Successes and Challenges. Another notable session, Strategies for Future Women Leaders, will occur the same day at 1:15. We hope you enjoy these among all the other great conference sessions CICA has planned.
The momentum is flourishing, so let’s keep it going. The CICA conference is another great opportunity to network with others in the industry. If everyone committed to introducing themselves to at least one person, just think about the potential to grow your network. The captive industry holds a great value proposition, so it’s incumbent upon us to spread the benefits and share knowledge and experience.
We welcome your input and any additional ideas. Please continue to follow Amplify Women’s developments by signing up
here and help spread our good news by sharing. Don’t forget to look for us at the CICA conference March 8-10 to say hello!
All the best,
Sandy
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Sandy Bigglestone, Director of Captive Insurance
Department of Financial Regulation, Captive Insurance Division, State of Vermont
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Risk Retention Group Regulation: “It Is Not a Perfect System!”
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From: Captive Insurance Company Reports (CICR)/IRMI, February 2020
It is 2020, and there’s no crisis in the liability insurance marketplace, so why are risk retention groups (RRGs) still needed? It has been decades since market failures in the liability insurance market resulted in the creation of a federal act in 1986 allowing for RRGs to operate as commercial insurance companies in order to provide liability coverage for their member and policyholder owners. Are RRGs still misunderstood as acceptable types of insurers?
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It's Not about the Numbers—It's the Quality, Says Sandy Bigglestone
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From: Captive.com/IRMI, January 2020
For decades, Vermont has been, by far, the largest captive insurance domicile in the United States. That position, says Sandy Bigglestone, director of captive insurance at the Department of Financial Regulation (DFR), with its rich captive resources, will continue. At the same time, Ms. Bigglestone, who has been a Vermont captive regulator for more than 2 decades, expects, with conditions tightening in the commercial market, for captives to take on more risks.
When did you join the Captive Insurance Division of the Vermont Department of Financial Regulation? What did you do previously? What is your current title?
I started with the Captive Insurance Division at the Vermont Department of Insurance in August 1997. My first week of work was during the Vermont Captive Insurance Association conference, so I immediately fell in love with the industry because I knew I was part of something great for Vermont. I came to the department from public accounting, and prior to that, I worked in hospital finance. I started as an examiner, and my current role/title is director of captive insurance.
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Want to meet up to discuss Amplify Women Task Force (Amplify) initiatives with Amplify members and others at any of these upcoming conferences?
- Captive Insurance Companies Association (CICA) Conference
- Risk and Insurance Management Society, Inc. (RIMS) Annual Conference
- North Carolina Captive Insurance Association (NCCIA) Annual Conference
- Western Region Captive Insurance Conference (WRCIC)
- Tennessee Captive Insurance Association, Inc. (TCIA) Annual Conference
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Business Insurance opens nominations for Break Out Awards
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The program, which recognizes 40 of the next generation of leaders in the insurance sector, is open to all up-and-coming managers and executives in the risk management and commercial property/casualty field. The
Break Out Awards culminate with regional award recognition events held in New York, Chicago and Los Angeles. Winners from any region can attend the event that is most convenient for them.
Submission deadline: Tuesday, March 24th
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Submissions open: US Captive Review Awards 2020
Recognizing and rewarding providers of captive insurance products and services
Nominate a colleague for the 9th annual
US Captive Review Awards 2020. Categories include Actuarial Firm, TPA of the Year, Captive Innovation Next Gen initiative, Audit and Accounting Firm, Captive Manager of the Year, Domicile of the Year, Emerging Talent, Outstanding Contribution, and more!
Submission deadline: Friday, April 3rd
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CICA 2020 International Conference | March 8-10
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We are pleased to present two women-focused sessions at the Conference:
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Amplify Women - Highlighting the Successes and Challenges
With the kickoff of the Amplify Women Group in 2019, this session will highlight the mission and direction of the Task Force. The mission of educating, networking and supporting women in all positions is extremely important to the captive industry. CICA's interest in supporting women in the industry and promoting the success stories will resound through this session. Female leaders will share successes and challenges they have faced during their career.
Strategies For Future Women Leaders/How to Build Your Brand
Whether you are new to the captive insurance environment, or have considerable time in this market, you may experience the struggle of balancing work and home life, all while building or maintaining your brand as a leader and business person. Regardless of gender, we all face challenges of growing in our roles, the need for mentors, and projecting and protecting our personal brand. This session will offer suggestions for how to manage some of those challenges. We will engage participants to think about their brand with a fun exercise. We will touch on use of social media and the importance of brand consistency from business to personal life.
There is also a special
Amplify Women Kickoff Breakfast planned for Tuesday, March 10. Come to network and learn more about the group and its initiatives!
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Crittenden Medical Insurance Conference | April 5-7
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Amplify Women Task Force members Cheryl Baker, of Blue Cross Blue Shield of Michigan; Kara Tencellent of Coverys; and Amy Evans of Intercare Insurance Services will participate in panels at the Crittenden Medical Conference in Miami (April 5-7).
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Cherie and Kara's panel will discuss the future of healthcare liability, InsurTech, and increased partnership among commercial insurers, reinsurers, and captive insurers. Amy's panel will discuss how to attract and cultivate the millennial workforce within the insurance industry.
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North Carolina Captive Insurance Association (NCCIA) Annual Conference | May 13-15
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CICA President Dan Towle, Erin Hackett of Crowe, and Anjanette Fowler of Madison Scottsdale will be leading a panel at the North Carolina Captive Insurance Association NCCIA Annual Conference to discuss the NEXTGen and Amplify Women initiatives.
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Congratulations to Captive Review Power 50
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What an exciting time to see so many of CICA’s women leaders recognized in Captive Review’s 2020 Power 50 Lists. Congratulations on your well-deserved honors and thank you for all that you do for CICA and the industry!
Power 50 Ones to Watch
- Erin Hackett, NEXTGen Task Force Chair and incoming CICA Board member
- Karen Hsi, NEXTGen Task Force member
Power 50
- Sandy Bigglestone #17 – Amplify Women Task Force member
- Deyna Feng #20 – CICA Board member
- Renea Louie #46 – CICA Board member and Membership Committee Chair
- Anne Marie Towle – #7 Amplify Women Task Force and Program Committee member
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Erin Hackett Joins CICA Board of Directors
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Erin Hackett, CPA, ACI, senior audit manager, Crowe, has been appointed to a new, position on the Captive Insurance Companies Association (CICA) Board of Directors. Hackett, who chairs CICA’s NEXTGen Young and New Professional’s Task Force, was appointed to a one-year term.
Hackett, who brings 10 years of audit experience with commercial insurers, risk retention groups, and more, eagerly welcomes this new opportunity. “I couldn’t be more excited to join the CICA board of directors. Giving me the opportunity to join this impressive group shows CICA’s commitment to developing the next generation of captive professionals and leaders,” she said. Hackett’s term will officially begin with the March 2020 board meeting.
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